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poorgradstudent

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poorgradstudent

Re: Susie924 post# 3605

Sunday, 12/21/2008 2:27:52 PM

Sunday, December 21, 2008 2:27:52 PM

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>Peter Schiff Was Right 2006 - 2007<

Mr. Schiff was right in respect to house prices, and was demonstrably not the only one.

Where I'm skeptical is his emphasis on the people borrowing to buy the homes. I think the magnitude of the decline is more related to the increased leverage that investment houses used to create securities based on the mortgages. I think that is where the real inflation (or faux creation) of value was introduced.
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